SBI Funds Is Said to Start Marketing $1.5 Billion IPO Next Week

SBI Funds Management Ltd. is set to begin formal marketing as early as next week for its planned initial public offering to raise as much as $1.5 billion, according to people familiar with the matter.

India’s largest asset manager is aiming to sell about three quarters of the issue to domestic investors and is also considering raising as much as $350 million through a pre-IPO share placement, the people said, asking not to be identified as the information is private. The company is in discussions with bankers on the plan, the people said.